3.3. Assess the marketability of the product to be offered internationally.

The beauty and personal care product market in Indonesia is a large and growing market that

every exporter should consider. Revenues are projected to reach $7.5 billion in 2021 and grow at

a 6.5% compound annual growth rate through 2025, according to Statista.com. In terms of

market segments, personal care is the largest with $3.2 billion, followed by skin care ($2.1

billion), cosmetics ($1.7 billion) and fragrances ($0.4 billion).

The fact that Indonesia's customer base is still expanding quickly and strongly, both in terms of

purchasing power and desire to spend, makes the market even more alluring. In Indonesia, where

there are 267 million people, 12–15% of those people are thought to be middle- to high-income

earners. In addition, P.S. Brodjonegoro, Indonesia's Minister of National Development Planning,

predicted in 2019 that the country's middle class will double in size in 2022, reaching 45 million

people.

An interesting point to note is that Indonesians are avid social media dwellers, with 81% of its

online population having an account on Facebook. Indonesia is also a powerhouse for Instagram,

housing the platform’s biggest user base in Asia. This makes the advertising aspect not a

problem due to the high participation in social media.

Considering that the population has the ability to purchase the planned products, the revenue

should be expected in this exportation. The people that can be reached is also not a problem

using social media. Lastly, the economic growth can back up the exportation.